The province’s political leaders found validation and ammunition Monday in the regulator’s decision on the Maritime Link.

Premier Darrell Dexter, who started work on a Labrador hydroelectric project shortly after taking office in 2009, said the provincial Utility and Review Board has showed that the $1.5-billion project is the lowest-cost electricity option for the province.

That is despite the board saying its approval is conditional on project partner Emera getting guaranteed access to market-priced energy.

“I think it’s a positive decision,” Dexter said Monday. “I want to thank the board for the work they did, and I think it demonstrates that the Maritime Link is the lowest-cost alternative for ratepayers in the province.

“I believe that Emera still has some work to make sure that the ratepayers are protected, but I think it’s clear (the board) did the analysis of all of the options.”

The link, a subsea cable between Newfoundland and Cape Breton, is slated to be part of the overall $7.7-billion Muskrat Falls project that would move hydroelectric power from Labrador to the province. Emera has partnered with Nalcor, Newfoundland and Labrador’s Crown energy utility.

The board said its support for the link project depends on Emera securing access to the market-priced energy.

“Taking into account all of the evidence, the board finds, on the balance of probabilities, that the ML project (with the market-priced energy factored in) represents the lowest long-term cost alternative for electricity for ratepayers in Nova Scotia,” said the decision.

“In the absence of market-priced energy, the ML project is not the lowest long-term cost alternative.”

The opposition leaders said the decision proved Dexter was wrong to champion the link project as the lowest-cost option.

“I believe government is the loser here today, and ratepayers of Nova Scotia Power are the winners,” Liberal Leader Stephen McNeil said.

“Clearly, the URB said the deal that (government) was saying was the lowest-cost option for Nova Scotians is not.”

The Liberals and Tories said they had argued that the deal include guaranteed access to the cheaper market-priced power, in addition to the 20 per cent block of power locked into the deal.

“It confirms our point — that it’s a good project, but a bad deal,” said Progressive Conservative Leader Jamie Baillie.

“I’ve been arguing all along that the deal needs to change, including securing guaranteed access to the surplus power, and the URB confirmed that today.”

Baillie also chided Dexter for his endorsement.

“Nova Scotians deserve a premier that stands up for them and doesn’t just rubber-stamp an expensive project because Nova Scotia Power likes it.”

He and the NDP also took swipes at the Liberals for the board’s lack of support for importing power from Hydro-Quebec.

They have accused the Liberals of endorsing a deal with the Quebec utility to import power. McNeil said he has only said that option should be investigated, along with all other options.

The board accepted evidence that said the imports from Quebec would require an estimated $1.3 billion in transmission upgrades, with at least $905 million paid by Nova Scotians. There was also no indication there could be a deal struck with Hydro-Quebec.

“The lack of any reasonable prospect of a long-term contractual arrangement with Hydro-Quebec proves fatal to this option,” said the board.

It said wind power would be a more expensive option than the link, and would raise concerns about system reliability.

The board also said it didn’t know why Emera didn’t take a closer look at a hybrid option with wind, natural gas, imported power and other sources.